[This article is now out of date. For the latest store closures, read here.]
[Update: Nine additional Kmart stores have been added to this list since publication. Those stores are in Centre, AL; Claymont, DE; New Port Richey, FL; Forest Park, IL; Iron Mountain, MI; Reidsville, NC; Warren, PA; Dickson, TN and Dale City, VA.]
Sears Holdings Corp. (NASDAQ: SHLD) is laying off at least 6,067 workers and closing over 110 Kmart, Sears and Sears Auto Center locations, many before Christmas.
Sears spokesman Howard Riefs declined to speak by phone. "We disclose our store counts at the end of each quarter," he said via email. "We don't have further comment."
Riefs' name, however, appears at the bottom of individual liquidation sale notices sent to local media since mid-September. Inquiries with stores, mall managers and reporters across the country reveal that at least 55 Kmart stores, 30 Sears department stores and 31 Sears Auto Centers are scheduled to close before the end of January. Most notably, Sears is liquidating its location at the largest mall in America, the King of Prussia Mall in suburban Philadelphia, and will instead sublet the space to Primark, a low-cost Irish apparel chain. Sears closed its flagship Chicago store in April. More closures could be added, as new liquidations have become public as recently as Wednesday. The following table will be updated.
(Story continues below.)
All things must go: Exclusive list of closures at Sears Holdings Corp.
[This chart is now out of date. For the latest store closures, read here.]
|AL||Centre||Kmart||1525 Chestnut Byp.||54||November 2||January 18|
|AL||Dothan||Sears + Auto||662 W Main St.||68||September 26||Early December|
|AL||Huntsville||Kmart||Huntsville Center||73||November 2||Mid January|
|CA||Rocklin||Kmart||5615 Pacific St.||63||October 31||Mid January|
|CA||Yuba City||Kmart||850 Gray Ave.||63||September 28||December 7|
|CT||Torrington||Kmart||681 Main St.||73||September 28||Early December|
|DE||Claymont||Kmart||333 Naamans Rd.||87||Late September||Early December|
|FL||Clearwater||Sears Auto Only||Westfield Countryside||21||N/A||September 13|
|FL||Naples||Kmart||Park Shore Plaza||72||November 2||Mid January|
|FL||New Port Richey||Kmart||5725 US 19||58||September 28||Early December|
|FL||Winter Springs||Kmart||1425 Tuskawilla Rd.||69||November 2||Mid January|
|FL||Zephyrhills||Kmart||7422 Gall Blvd.||68||September 28||Early December|
|IA||Ames||Kmart||1405 Buckeye Ave.||44||September 28||Early December|
|IA||Clive||Kmart||10331 University Ave.||49||September 26||Early December|
|IA||Fort Dodge||Sears + Auto||Crossroads Mall||41||October 31||Mid January|
|IL||Bloomington||Kmart||Colonial Plaza||79||November 2||Mid January|
|IL||Danville||Sears + Auto||Village Mall||63||September 26||Early December|
|IL||Forest Park||Kmart||7630 W Roosevelt Rd.||107||September 28||Early December|
|IL||Forsyth||Sears + Auto||Hickory Point Mall||45||September 26||Early December|
|IL||Peoria||Kmart||Evergreen Square||73||September 28||Early December|
|IN||Bedford||Kmart||Town Fair Center||62||September 28||December|
|IN||Decatur||Kmart||804 S 13th St.||49||September 28||Early December|
|IN||Fort Wayne||Kmart||820 N Coliseum Blvd.||69||September 28||Early December|
|IN||Greenwood||Kmart||860 Hwy. 31 S||78||November 2||Mid January|
|IN||Indianapolis||Sears + Auto||Washington Square Mall||91||September 28||Early December|
|IN||Indianapolis||Kmart||2715 Madison Ave.||131||September 28||Early December|
|IN||Indianapolis||Kmart||7425 E Washington St.||139||September 28||Early December|
|IN||Muncie||Kmart||1501 E McGalliard Rd.||59||September 28||December|
|KS||Wichita||Sears + Auto||Towne West Square||103||September 26||Early December|
|KY||Owensboro||Sears + Auto||Towne Square Mall||52||September 26||Early December|
|MD||Baltimore||Kmart||Northwest Plaza||107||September 28||Early December|
|ME||Presque Isle||Sears + Auto||Aroostook Centre Mall||63||October 31||January 18|
|MI||Ann Arbor||Kmart||Maple Village||59||November 2||Mid January|
|MI||Bay City||Sears + Auto||Bay City Mall||47||October 31||Mid January|
|MI||Burton||Kmart||1145 N. Belsay Rd.||85||September 28||Early December|
|MI||Flint||Kmart||3083 Miller Rd.||81||September 28||Early December|
|MI||Iron Mountain||Kmart||1800 S Stephenson Ave.||54||November 2||Mid January|
|MI||Madison Heights||Kmart||29101 John R Rd.||179||September 28||Early December|
|MI||Port Huron||Kmart||1179 32nd St.||188||September 28||Early December|
|MI||Rochester Hills||Kmart||1100 S Rochester Rd.||77||September 28||Early December|
|MI||Waterford||Sears + Auto||Summit Place Mall||75||September 26||Early December|
|MN||Anoka||Kmart||1100 W Main St.||47||September 28||Early December|
|MN||Blaine||Kmart||8949 University Ave. NE||60||September 28||Early December|
|MN||Burnsville||Kmart||14230 Burnhaven Dr.||62||September 28||Early December|
|MN||Waite Park||Kmart||40 2nd St. S||57||September 28||Early December|
|MO||Florissant||Kmart||Dunn Center||100||September 28||Early December|
|MT||Bozemann||Kmart||1126 N 7th Ave.||37||November 2||Mid January|
|MT||Great Falls||Sears + Auto||Holiday Village Mall||65||September 26||Early December|
|NC||Cary||Sears Only||Cary Towne Center||66||October 31||Mid January|
|NC||Gastonia||Sears + Auto||Eastridge Mall||65||September 19||December 19|
|NC||Kinston||Kmart||Kinston Square||64||September 28||Early December|
|NC||Reidsville||Kmart||1623 Way St.||54||September 28||Early December|
|ND||Dickinson||Kmart||Prairie Hills Mall||41||September 28||Early December|
|NE||Omaha||Kmart||13405 W Maple Rd,||50||September 28||Early December|
|NH||Claremont||Kmart||367 Washington St.||59||September 28||Early December|
|NJ||Paramus||Kmart||859 N Route 17||74||September 21||Early December|
|NJ||Randolph||Kmart||140 Route 10||91||October 5||December|
|NM||Albuquerque||Kmart||Hilltop Plaza||59||September 28||December 7|
|NY||Auburn||Sears + Auto||Fingerlakes Mall||51||October 31||Mid January|
|NY||Ithaca||Sears + Auto||Ithaca Mall||37||September 26||December|
|NY||Massena||Sears + Auto||St. Lawrence Centre||51||October 31||Mid January|
|NY||Syracuse||Kmart||Erie Blvd E||92||November 2||Mid January|
|OH||Fairborn||Kmart||Five Points Plaza||66||September 28||Early December|
|OH||Marion||Sears Auto Only||Southland Mall||9||N/A||September 27|
|OH||Solon||Sears + Auto||6221 SOM Center Rd.||53||September||Early December|
|OH||Springfield||Kmart||1476 Upper Valley Pike||68||September 28||Early December|
|OK||Enid||Sears + Auto||Oakwood Mall||38||October 31||Mid January|
|OR||Albany||Sears + Auto||Heritage Mall||57||October 31||Mid January|
|PA||Bloomsburg||Sears + Auto||Columbia Mall||57||October 31||January 18|
|PA||Chambersburg||Sears + Auto||Chambersburg Mall||62||October 31||Mid January|
|PA||Frackville||Sears + Auto||Schuylkill Mall||84||October 31||Mid January|
|PA||King of Prussia||Sears + Auto||King of Prussia Mall||114||October 24||Early December|
|PA||Lebanon||Sears + Auto||Lebanon Plaza||51||October 31||Mid January|
|PA||Rochester||Kmart||300 Brighton Ave.||78||September 28||Early December|
|PA||Tarentum||Sears + Auto||Galleria at Pittsburgh Mills||97||October 31||Mid January|
|PA||Warren||Kmart||1666 Market St.||62||September 28||December 7|
|PA||West Mifflin||Sears + Auto||Century III Mall||88||September 26||Early December|
|SC||Myrtle Beach||Kmart||1403 N Kings Hwy.||59||September 28||Early December|
|TN||Dickson||Kmart||301 Henslee Dr.||65||September 28||Mid November|
|UT||Woods Cross||Kmart||680 W 2600 S||54||September 28||Early December|
|VA||Chesapeake||Sears + Auto||Chesapeake Square||82||October 31||Mid January|
|VA||Dale City||Kmart||2851 Dale Blvd.||69||September 26||Early December|
|VA||Front Royal||Kmart||Royal Plaza||88||November 2||Mid January|
|VT||Rutland||Sears + Auto||Diamond Run Mall||65||September 26||Early December|
|WI||Glendale||Sears + Auto||Bayshore Town Center||67||September 26||Early December|
|WI||Janesville||Kmart||2233 Old Humes Rd.||70||September 28||Early December|
|WV||Bluefield||Sears + Auto||Mercer Mall||64||September 26||Early December|
[Update: A previous version of this story said the Washington Square Mall Sears and Sears Auto Center in Evansville, Indiana were closing. It is in fact the Washington Square Mall Sears and Sears Auto Center in Indianapolis, Indiana that are closing. The Evansville locations will remain open, according to Sears spokesman Howard Riefs.]
States hardest hit by the closures include Pennsylvania, Michigan and Indiana, as well as New York, Florida, Ohio, Illinois and Minnesota. Many of the shutdowns have dealt blows to malls and surrounding communities that were already in decline. Other shopping centers quickly revealed new tenants as replacements.
These closures add to the 96 stores Sears Holdings announced it had closed in the first half of fiscal 2014. That compares to 93 locations shuttered in all of 2013. Riefs would not explain whether these earlier numbers count Sears Auto Centers separately from Sears department stores. Some Sears and Sears Auto Center locations are closing independently of each other, and liquidation notices refer to the two formats separately.
In brief statements to local media, Sears said the closures were part of an effort to "reduce ongoing expenses, adjust our asset base, and accelerate the transformation of our business model." But some analysts have been more fatalistic about the company's prospects, warning that Sears is "burning furniture to stay warm," that the company has "entered the swirling black vortex," and that "this is the end" for the retailer. Sears has responded to similarly negative analysis as being "very one-sided," adding, "We have substantial resources available to us to fund our transformation."
Revenue at Sears has declined for 30 straight quarters. The Hoffman Estates, Illinois-based company has posted losses of over $1.8 billion over the past four quarters, and shares in the retailer have lost more than a third of their value over the past year. Bloomberg reported earlier this month that at least one vendor has halted shipments to the company, adding that insurers have cut coverage for Sears' suppliers, raising questions among observers about the company's ability to secure merchandise for the holiday period. But Sears called that report "misleading" and asserted that its stores are well-stocked.
Liquidating stores isn't the only way Sears is raising cash. The company has announced a variety of other initiatives to boost liquidity, including a $400 million loan from CEO Edward S. Lampert's eponymous hedge fund, ESL Investments, announced in September; $168 million raised from selling Sears Canada stock to ESL earlier this month; and a $625 million bond offering announced on Monday, which ESL will also participate in.
The Fitch credit rating agency downgraded Sears' issuer default rating to "CC" last month.
Shares in Sears Holdings were down 1.06% Wednesday to close at $34.42.
Disclosure: The author has no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
The author wrote this article themselves, and it expresses their own opinions. The author is not receiving compensation for it (other than from Seeking Alpha). The author has no business relationship with any company whose stock is mentioned in this article.